Adani potential Conflict of Interest with SEBI
The daughter of Cyril Shroff but his daughter is married to Gautam Adani’s son. Cyril Shroff serves on SEBI’s Committee on Corporate Governance & Insider Trading. If SEBI listens to people and is examining Adani issue, Shroff should not be involved at all, anywhere. more
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Adani Ports Investors Panic - Bond yields drop to junk status. Investors anxious over billionaire Gautam Adanis's business empire have sent some of his companies bond yield above 10%, a milestone typically reserved for junk-rated debt. Adani Ports & Special Economic Zone Ltd., which is scheduled to pay a total of $24.7 million in interest on three- dollar bonds are being quoted well into distressed territory. Adani Ports,India's largest private sector port operator with 30% market share - its bond yields have soared since US-based Hidenburg Research's scathing report, well over the 8.5% rate of junk bonds. The US based short seller accused the Adani conglomerate of `brazen' stock manipulator and accounting fraud - allegations that the group rebutted in a 413-page response, but couldnot stem the rout. The business's market capitalization have lost more than $100 billion since the report was published, one of the biggest wipe outs in India's history. The rout worsened after the decision not to go ahead with a follow-on public offer of shares. It has been returning funds to investors that had participated in it. Veteran emerging-market investor Mark Mobius passed on share sale due to concerns over Adani empire's debts. Billionaire Adani, who started as a diamond trader in Mumbai in the 1980s, now helms a conglomerate spanning ports, airports, coal mines, power plants and has more recently diversified into in renewables, cement, realty and media. more
Feb 06
If such is true then sebi will be having the coi policy. However he should not be a part of investigation more
Feb 03
India's public financial institutions are robust. Concerns should not exist from the point of view of financial stability, either for depositors or for policy holders, or for anyone holding shares in these institutions. The stock prices of Adani Enterprises has fallen considerably - these gyrations have little or nothing to do with macro-economy at all. Its the creation of right investment environment, sustaining a well regulated set of financial markets, while making sure that transparency of required quality exists and market functions well, information asymmetry, if any reduced/removed and making sure that government's own macro-economic policy are sound. more
Feb 03
